Martin Lewis has issued an urgent warning to all UK homeowners and shared his "golden rule".
The Money Saving Expert discussed the pit falls of home insurance when he appeared on ITV's This Morning earlier this week.
He said his "golden rule" for purchasing the insurance could save millions of people serious cash over their lifetime.
And the tip only requires people to do a bit of research.
According to Birmingham Live, Mr Lewis revealed the hack while talking to presenters Philip Schofield and Davina McCall.
He said: "With home insurance, it is one of the prime areas where insurers use a thing called price walking,"
Explaining what this meant, Martin said that this is caused when you are given a competitive price for your first year of home insurance.
But the next year, and the years following, when many will auto-renew their insurance, companies will raise the price.
He added: "And what that means is that you get your quote in the first year and it will be competitive.
"Then, if you do not change the year after that, they walk the price up slowly - maybe 25 per cent.
"More the year after, more the year after, a little bit more the year after."
Telling viewers what his "golden rule" was, he said: "The golden rules when it comes to getting home insurance is NOT to auto renew. Always go out and check if there are cheaper prices out there."
Martin he finished by saying: "You could find your insurance costing you 50 per cent more after a couple of years compared to your first quote."
